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“Seesam Insurance AS” – the most secure non-life insurance group company in the Baltic Countries

The international security rating agency “Standard & Poor's” has increased the security rating of “Pohjola Insurance Ltd”, the largest non-life insurance company in Finland, from A+ to AA-, which is one of the highest among the insurance companies operating in the Scandinavia and the highest among the non-life insurance companies operating in the Baltic Countries.

“Seesam Insurance AS” is a 100 % subsidiary of “Pohjola Insurance Ltd” operating in the Baltic Countries – Latvia, Lithuania and Estonia.

AAratingmeans that theinsurer'sabilityto fulfil theirobligations isassessed as"very strong". 
The highestsecurity assessmentis AAA, which means that theinsurer'sability to fulfiltheir commitmentsis evaluatedas"extremely strong".

Seesam Insurance AS is a non-life insurance company operating in the Baltic Countries, the sole shareholder of which is the non-life insurance company “Pohjola Insurance Company Ltd.” that is a member of Finland'slargest financialgroup“OP-Pohjola” and that bymore than 120years of operatingexperienceis not onlythe oldestbut alsothe largest and moststableinsurance company in Finland.

At the endof the last year,the non-life insurancecompanies of“Seesam” in Latvia, Lithuania and Estonia making a part of "OP-Pohjola Group" completedthe mergercreating “SeesamInsurance AS”, a singlecompanyoperatingin the Baltic Countries. In the result of this merger, “Seesam Insurance AS” has become a majorplayerin the whole insurance marketof the Baltic Countries.The company’sestimatedtotal grosspremiumturnover in 2011will reach50 millioneuros."SeesamInsuranceAS"employs morethan 350employees, whoprovide forcustomer service in32customer servicecentres inthe major cities of Estonia, Latvia andLithuania.

The European Banking Authority, having summarized the results of the bank stresstest that was carried out in July 2011, rated the “OP-Pohjola Group”asthe ninthstrongest to withstandthehypotheticaladversescenariosamong 90otherbanking groups inEurope.

In 2010,theinfluentialfinancialnewspaper "Global Finance" ranked"Pohjola Bank Plc.", which is a member of Finland'slargest financialgroup"OP-Pohjola Group" as the 33^rd safest among theworld's 50safestbanks. “Standard & Poor's” has granted the rating of AA- to the long-term liabilities of “Pohjola Bank Plc.”, thus assessing the future activities of the bank as stable.

SIA “Pohjola Finance”, a subsidiary of “Pohjola Bank Plc.”, has been operating in Latvia since 2008 offering a wide choice of leasing products to Latvian companies.

Additional information:

Armands Šterns

Tel. No. 67 06 10 29

E-mail: armands.sterns(a)seesam.lv